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Nasdaq Ventures into Bitcoin Futures

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    The second largest stock exchange in the world, with a market cap of $10 trillion, is getting closer to launch Bitcoin futures during the first half of 2019

Nasdaq Ventures into Bitcoin Futures
Cover image via u.today

The second largest stock exchange in the world, with a market cap of $10 trillion, is getting closer to launch Bitcoin futures during the first half of 2019.

Joseph Christinat, the vice-president of Nasdaq’s media team, spoke with UK media outlet Express, stating that

“Bitcoin Futures will be listed, and it should launch in the first half of next year – we’re just waiting for the go-ahead from the CFTC but there’s been enough work put into this to make that academic.”

He also added, “We’ve seen plenty of speculation and rumours about what we might be doing, but no one has thought to come to us and ask if we can confirm it, so, here you go – we’re doing this, and it’s happening.”

Chart Analysis - BTC/USD

Chart Analysis - BTC/USD

After attempting to break the $4,500 barrier, Bitcoin has resumed its bearish action, losing over 5% during the last 7 days and 2.50% in the last 24 hours. It is now capped by a bearish trend line and headed towards the support at $3,700.

Currently, the pair is trading very close to the key handle at $4,000, and the way it behaves here will determine the next short-to-medium term direction. A strong move above the level will probably break the trend line, and this will open the door for a recovery into $4,500, which will also create a more significant higher low, making way for further upside. On the other hand, a bounce lower from $4,000 will likely make $3,700 the next short-term destination.

Support zone: 3700

Resistance zone: bearish trend line (as diagonal resistance) and the upper Bollinger Band (as dynamic resistance); 4500 in the longer term

Most likely scenario: break of the bearish trend line and move into upper BB

Alternative scenario: choppy action with a bearish bias.

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About the author

Thomas Hughes is an executive editor of U.Today. He is a skilled cryptocurrency trader and technical analyst deeply immersed into the cryptocurrency & blockchain technology area.

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Bitcoin Price to Hit $250,000 Due to Lightning Network Use by 2023: Tim Draper

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    World-famous investor and Bitcoin bull Tim Draper explains what reasons will push Bitcoin price to $250,000 by 2023

Bitcoin Price to Hit $250,000 Due to Lightning Network Use by 2023: Tim Draper
Cover image via en.wikipedia.org

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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While speaking to the audience at the Malta AI & Blockchain Summit last week, the billionaire and prominent Bitcoin supporter Tim Draper confirmed his previous forecast for the BTC price hitting $250,000 in the near future.

This time he explained that this high price per one BTC will be achieved through the growing use of the Lightning Network and explained how it will happen from his point of view.

Bitcoin still to hit $250,000

The Bitcoin permabull Tim Draper again stated that the Bitcoin price is going to hit $250,000 by 2022-2023. He said this will happen due to the growing use of the Lightning network which allows conducting payments in BTC easily.

Being a major global investor, he nevertheless shares the opinion of many crypto enthusiasts that BTC is not only a store of value but it can also be used to pay for things in everyday life – micropayments, the retail sector, etc, i.e. is perfect for adoption.

Previously, Tim Draper stated that his forecast of BTC reaching $250,000 was actually a quite conservative prediction.

Will Bitcoin get to be worth $1 mln?

As reported earlier on Wednesday by U.Today, the crypto asset manager and a trader Marius Landman tweeted that before Bitcoin hits $1 mln, it is bound to go through ‘super hyper inflation’, in which price drops by $20,000 will be considered insignificant.

He also expects Bitcoin and Litecoin to show ‘subito motus’ (Latin for ‘sudden movements’) soon, saying that this will leave uninformed investors and technical analysts at a loss.

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Bitcoin Price Hits $10,000 on Obscure Cryptocurrency Exchange

Bitcoin Price Hits $10,000 on Obscure Cryptocurrency Exchange

Smaller bullish BTC forecasts

Other traders and analysts seem to think more vaguely when they are looking at technical analysis graphs. They are bullish, nevertheless.

The @crypto_rand trader with over 216,000 followers on Twitter simply posts a chart, saying that Bitcoin ‘still looks bullish’.

Another analyst and trader PlanB has published a chart of the way the changes in the Bitcoin mining difficulty have impacted the BTC price. People in the comment thread agree that this data at the moment is bullish for the Bitcoin price.

At press-time, Bitcoin is sitting at $8,823.

BTC price CMC
Image via CoinMarketCap

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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